All 10 crew on board the badly damaged B-17 Flying Fortress, known as Mi Amigo, were killed when it plummeted from the skies and crashed into Endcliffe Park in 1944.
A flypast by aircraft from the Royal Air Force and United States Air Force will be taking place to mark the 75th year anniversary on Friday, February 22.
Specific details in terms of timings for the flypast have not been revealed yet, but a separate annual memorial service and wreath laying ceremony will take place as usual on the Sunday, February 24.
The Royal Air Forces Association in Sheffield announced wreath laying will take place at the memorial in Endcliffe Park at 1.15pm.
This will be followed by a service at St Augustine’s Church in Brocco Bank at 2pm.
It is expected to be attended by the lord mayor of Sheffield, Magid Magid, Lord-Lieutenant of South Yorkshire. Andrew Coombe, along with personnel from the Royal Air Force and United States Air Force.
A flypast will take place on the Friday following a campaign led by Lowedges grandfather-of-four Tony Foulds, who was one of a group of school children in the park who witnessed the tragedy that fateful day.
The Mi Amigo aircraft was returning from an intended bombing raid over Europe in which it was left badly damaged after being attacked by the Luftwaffe.
The story goes that the crew was attempting to make an emergency landing on the field in the park.
But after witnessing a young Mr Foulds and his friends on the grass the aircraft instead diverted and crashed into trees nearby, killing all the crew.
The 82-year-old previously told how he has developed a deep-seated feeling of guilt over the crash, which prompted him to always ensure the memorial is maintained.